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Fly News Breaks for August 22, 2019
ORBC
Aug 22, 2019 | 08:13 EDT
As previously reported, Craig-Hallum analyst Mike Malouf upgraded Orbcomm to Buy from Hold, with a $7.50 price target, as he believes transportation sector slowdown and loss of contract creates headwinds that are fully discounted in stock price. The analyst thinks that by the end of the year, once the visibility in the in-cab business comes into view and the trailer market works through some of its excess inventory, the company's valuation will "improve significantly."
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